The reason why junk silver isn't being melted anymore (by coin dealers)
is because there are now many people who want to hold 90% junk silver
coins as bullion instead of cashing them in and melting them.
So, it's not worth the effort to have a smelter haul away what you can
resell right there in the store. There was virtually no demand
to hold junk silver as bullion in 1980.
The Hunt Bros. madness depressed spot silver prices for 20 years afterward.
A number of silver coins not melted were returned to circulation. Our younger members
would be shocked at how much junk silver could be found in circulation in the 1980's
(especially 40% JFK's, worth barely more than face when silver was under $5 an oz.).
In 1982, I started saving every silver coin I found, hoping I'd someday
be able to cash in on another Hunt Bros. peak.
But since 2000, I've seen steady long-term growth in silver spot prices.
Which sure beats a sudden spot price explosion, then 20 years of stagnation!

Steady growth over a long period makes people want to hold silver
instead of melting it...